Zimmer Partners LP bought a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 312,500 shares of the utilities provider’s stock, valued at approximately $26,619,000. Zimmer Partners LP owned approximately 0.28% of Pinnacle West Capital at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banced Corp acquired a new position in Pinnacle West Capital during the 4th quarter worth about $201,000. Kovack Advisors Inc. acquired a new position in Pinnacle West Capital during the 4th quarter worth about $202,000. Krilogy Financial LLC acquired a new position in Pinnacle West Capital during the 3rd quarter worth about $211,000. IBM Retirement Fund acquired a new position in Pinnacle West Capital during the 4th quarter worth about $281,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in Pinnacle West Capital during the 4th quarter worth about $290,000. 82.65% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP David P. Falck sold 4,500 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $89.07, for a total value of $400,815.00. Following the transaction, the executive vice president now owns 40,838 shares in the company, valued at approximately $3,637,440.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathryn L. Munro sold 2,666 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $75.36, for a total value of $200,909.76. Following the completion of the transaction, the director now owns 15,630 shares in the company, valued at approximately $1,177,876.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,465 shares of company stock worth $5,538,254. Company insiders own 0.70% of the company’s stock.
Shares of Pinnacle West Capital Co. (NYSE PNW) opened at $77.28 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.61. The stock has a market capitalization of $8,532.56, a PE ratio of 17.57, a price-to-earnings-growth ratio of 5.77 and a beta of 0.31. Pinnacle West Capital Co. has a 12-month low of $73.81 and a 12-month high of $92.48.
Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. Pinnacle West Capital had a return on equity of 9.59% and a net margin of 13.70%. The company had revenue of $759.65 million for the quarter, compared to analyst estimates of $773.12 million. During the same quarter last year, the company earned $0.47 EPS. Pinnacle West Capital’s revenue for the quarter was up 2.8% compared to the same quarter last year. equities research analysts expect that Pinnacle West Capital Co. will post 4.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st were issued a $0.695 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.60%. Pinnacle West Capital’s payout ratio is currently 63.91%.
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Pinnacle West Capital Company Profile
Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.
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